Doing some pre-startup homework and crafting a business plan now will make your life post-startup so much easier. The real reasons to write a business plan have nothing to do with other people: They have to do with you.

There are many different sources of funding available these days; for established business owners with solid credit, a term loan is often one of the best options. Whatever your reason for needing working capital, long-term financing is likely a good solution.

There is some confusion about whether or not every small business has a credit profile (in addition to a personal credit score.) If your business is a registered business, including sole proprietorships, along with your personal credit score, your business will have a business credit profile.